South Korea health insurance property premiums remain near 30%

Property-based health insurance premiums for local subscribers in South Korea remain high, accounting for approximately 30% of total premiums. Data from the Ministry of Health and Welfare and the National Health Insurance Service shows that while the proportion has decreased from 47.8% in 2020 due to increased deductions and the abolition of automobile-based premiums, the burden remains significant for retirees and the unemployed.

Representative Nam In-soon has called for a transition from the current dual system—which bases premiums on income for employees and both income and property for local subscribers—to a unified system centered on income. Nam noted that South Korea and Japan are the only OECD members that still levy health insurance premiums based on property. She suggested establishing a committee to discuss reforming the premium imposition system to ensure equity, particularly for those with assets but no active income.